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I ... the the ... it has lowered ... its key meetings Einstein as government debt and ever con joining me now is an Italian senior director at Sands ... and you get to see in ... the case is the big worry that everyone talks about its kind a ... buildup in China ... are you saying that there's reason to worry ... and we are saying that when when no cooling in a crisis and we don't expect China's have a hard landing or a ... disorderly actually had come the what we are saying is that despite the exquisite strengths of China's sulfur in the machine which continues to warrant a ... relatively high in recent years a plus ... nonetheless ... we think China as April is our debt problem ... I'm evidenced by the buildup of credit a broad basis to buy two hundred percent GDP by the end of twenty twelve from twenty five percent of GDP ... at the end of two thousandeight ... and we think that's that's um about credit some about prop got that problem is can wind up with the government this offering resources will be needed to help fix the problem ... is and there's always that with that million dollar question there are the numbers the figures coming out of China ROC reliable said ... when you made this ratings a what what Edited specifically DJ used to determine on the credit ... um well the two hundred Santas my friends from its wealth is fishy so nice to not based on the People's Bank state-owned total social financing ... on ... my new finds colleagues ... do with these things very closely think that the total social financing nice to ... bow makes still sets and tonic resold Pasha to find an activity you are all fine balance sheet credit ... disbursement which they tried to estimate not back in and outside the gets that it's beyond this time but which is ... on the weekly China with the greatest ... level of highest level of ... credit if any on yen sulfur and that we rate ... the cat a cat with ... a contentious shadow banking and of course that's the thing that makes a lot of people nervous how much of the shadow banking landing by a non bank at ... is is really banking ... at facilities Everett is really going on so ... what does that to what is just assessment of the situation and how big a danger as opposed to the greater economy ... well we think the explicit on bank balance sheets but it is about one three seven percent of GDP ... on the difference the other sixty of some of her percent is the shadow banking activity ... on ... loosely ... we think that the job I he's going faster than explicit buying paint and we think that's a concern because we think that such activities last well supervise and ... regulate it down time on buying on by a bounty on the case as it would you say I mean in a new recently did this downgrade would you say that this is the beginning of a downward at decline given that the debt situation in China ... but she stressed two things firstly that the ratings on a day plus I which is a relatively high rates and take the time in a context nine when the nice offerings including the UK the US have found so negative ... on pots ... aam secondly the basics from stable outlook so we seen in the ... pressures on the ... Chinese race he uses violence over the next couple of years ... on the downside if we see a ... crystal ization of the kinds of financial sector risks that we've been discussing rocket leaders to take the ... reasons the name ... on the upside is that we seen evidence that the economy is getting out of the debt problem that that's that that levels of broadly ... stabilized amid the economy's rebalancing towards a more ... fourthly sustainable ... aam consumption wide ... pot ... about something that could lead us to take the reasons out ... and cake thanks AmEx and is telling training us from Fitz EchoStar den says tiny sporting company carried on for illegally using is bathed and now that same company ... is turning around and steering the NBA superstar ... I'm Deborah con joining me now is stand a brands to is the isthe legal counsel for Bentley the stands ... standing search for Joe inning as ... okay so why would a ton done to this I given the fact that Michael Jordan's ... lawsuit against a company is is still pending in in Shanghai corporate ... ownership and that's exactly why they are doing this ... of this lawsuit ... on Michael Jordan side was filed last year ... can this company is actually threaten to do this for quite a few months now ... I finally went ahead and did it I think just because the ... lawsuit is pending and are looking for some sort of ... advantage ... time in hopes of maybe getting settled ... ok what what is a chance as any given the fact that that needed to serve the facts surrounding this case that what we know so far ... why do you what is your sense it does the company actually have a case against Michael Jordan ... well actually went back and I look to what I wrote last December about a counterclaim ... and at the time I said it was amusing ... and I think I'm gonna stick with that ... reaction ... rather than actually filed ... I don't think they have any prayer are all winning on a counterclaim ... having Michael Jordan actually has a very good case ... it certainly isn't a malicious claim it's not a frivolous lawsuit ... and in each have a counterclaim right now I think is a loser ... and they're just doing it for a strategic advantage ... a case it when you say a strategic advantages this to give the company more credibility Nenad they are they looking to really Khona do some PR damage control there ... the I'm not sure how much credibility actually get them but I think ye that that's the idea ... they're looking to just pile on something else that perhaps they can take off the table later on in answer to the main settle the negotiation ... of but again that I think this is such a loser of a counterclaim that ... in me and I don't know what it really gives them ... and what that of Michael Jordan's case that spending in Shanghai and in you said that you think as a Rock another strong case against the company ... aam what exactly ending its IDC's charging that the company illegally used says his ... name and in its um ... so what is it that that Michael Jordan is really making for an end and what are the chances there for the case ... well he underlined claim mom that Michael Jordan has here is a very strong one ... he's basically just arguing that this company filed trademarks and used his name ... on knowing of that ... he was a famous guy that time and that this was that he had rights to an end ... it's all in all that he needs to do and in winning that case is to show that he had came in China ... up prior to ... those trademarks being filed prior to that use ... I think ... in doing so you know building up back ... in evidence in the case ... is pretty easy for Michael Jordan ... everyone knows she was famous during that time ... a worldwide but certainly in China ... SEO copy that happen all the time and time and with her a lot of cases at Chinese companies copying I'm brands ... that I mean how unprecedented is this for a kind of an outside party to actually challenge a Chinese company I inside the country ... oh not all not at all this is been happening for many many many years ... a once in awhile you get a famous case Ilya reported on but this kind of thing happens actually everyday ... aam will not so much among foreign brands and famous people ... um you know from outside the country ... um but you know eighty percent of the cases are heard and don't call me on that percentage than ... most of the cases are between Chinese companies Chinese individuals ... of these cases go on every single day it's it's not only ... do they usually if then you know the people who are saying they say studies do they usually win ... yellow Times they they do when on some of these cases are difficult ... depending on who the parties are an depending on what evidence they have ... so that there been quite a few cases like this ... aam better brought ... problem ... of hiding China's foreign brands ... and one reason why a lot of those who've lost in the past is that they have trouble with evidence ... to go back years and years and years and actually gather up ... evidence that they were famous in China ... and even some want rebrands find a very difficult to do ... I think in the case of Michael Jordan though ... um you know get gathering evidence of his fame is that it can be that difficult the ... taste and Avins JS from Beijing thanks Fran much for joining us ... as Warren foreigners living in South Korea to make evacuation plans as Pyongyang's strength of the fear campaign and other not time to time joining me ... is reporter named John Daly from Seoul ... thats an earth Korea certainly are and to um a rare our living in South Korea ... so is it different this time around at people taking them more seriously ... well maybe the enlarged here is the move would be four plants ... the level of series that if the series was not ... very high thirty ... eight people get into action to actually ... do something about it before I ... knew continuing very long lines it doesn't really ... have any ... impact on their everyday lives so it's pretty easy to tune out so ... the more serious than usual play ... nothing that you can really be seen teams in the game ... the case out so is ... the difference NVIDIA ion what I'd talk to Korean friends Bailey say that's ... their parents' generation look at threats from North Korea much differently than the younger generation on ... is this sense on the ground that you do that that North Korea is is instilling any fear in to anyone or is this once again just kind of ... something that happens that people ... ignore ... bookings are unfair ... it's something that with three consecutive repeatedly over time ... it's gotten a lot of attention because it has a lot of ... in common they need more aggressive comments and ... if it's been going on for longer than usual period ... but in general ... in the quiet it doesn't really change things and would only generation as the medium of them were concerned because it actually keen ... to meet me at a ... fire that had past experience before period ... a ninety four he wrote that work for the times ... but there's nothing really thinking ... about it ... and the rest of ... all-out war remains the only thing that ... and it's taking since they remain MON so ... this image teams ... at KNF chorus Xstrata again threatening at more miss all I'm ... missile at Target practices and said ... I'm just wondering how to ... is anyone taking provisions given that it was the biggest fear is that is the biggest fear that something can go wrong or I'm ... what if people do you think of the ground in the men's ... for inquiring I ... flew down V me don't worry it won't ... the potential war against all of a world where ... everything is alright with ... that worried David Rivkin an ... actual or ... the percentage of ... grace ... I think is really ... really know what you ... what it's like to bring about ... no it in a car accident no worry about getting fake ... and and the warrior award has been ... a long time don't really worry about the same fate it's fairly easy to ... get ... I need ... to worry about Obama but is that more directly connected with your freaking mind a mean ... that the ... risk a war is our only ally ... means it doesn't really ... impact you might think oh ... totaled four come home ... in tears things everyday ... China set ... any indication the government's taking these threats added from North Korea more seriously this time or amount of the issued any warnings to the public anything like that ... well they respond to a perfectly me he and Obama repeating that ... the work ... that is right here is the increase on an aggressive manner led ... to the probably be knee deep in the house protocols about ... now ... there ... will be more dangerous situations but the happen ... we made ... public through the public announcements about what people should do he said ... the dangers to the students at a still life as normal on the streets of Seoul ... thanks AmEx min soundly training us from Seoul ... for more than straight again to Des beest dot com I'm Deborah con ...